1 Green Proofs for Bitcoin: How does it work?
1.1
Green Proofs for Bitcoin is a transparency initiative supporting alignment between bitcoin mining and global decarbonization efforts. Energy Web provides a program to recognize and reward Bitcoin miners and hosting companies (hereinafter “Miners”) who mine Bitcoin or provide hosting services for Bitcoin mining equipment in a sustainable manner by awarding Certificates to such Miners. Miners can apply for the Certificate and can then selectively disclose their Certificate and/or underlying sustainability data with crypto market participants, business counterparties, and/or the general public.
2 Green Proofs for Bitcoin Certificate
2.1
Energy Web is the owner of and has any and all intellectual property rights with regard to the 2021 and 2022 certificates depicted below (individually, “2021 Certificate” and “2022 Certificate”; collectively “Certificates”).
Energy Web grants the right to use the Certificates depicted and any other intellectual property rights to Miners in accordance with these Terms.
3 Right to use the Certificate
3.1
Certified Miners are entitled to use the Certificates if they
a)
comply with the Energy Web Green Proof for Bitcoin criteria ("Criteria") issued by Energy Web for the given certification year, as set forth in Section 6 of these Terms;
b)
have successfully passed Energy Web's Certificate procedure;
c)
comply with the Criteria; and
d)
fulfill their obligations in accordance with these Terms.
4 Certification Process
4.1
You must follow the following steps in order to submit a Certificate application:
1.
Familiarize with materials: You should familiarize yourself with these Terms, the website, the Criteria and any other applicable material.
2.
Create an account (“Account”): To create an Account, we will require you to connect your energy web chain blockchain address and provide certain information about yourself and Energy Web may, at its sole discretion, require you to provide further information and/or documents such as documents to fulfil documentation requirements under any applicable customer due diligence (“CDD”), know your customer (“KYC”) and anti-money laundering (“AML”) regulations or requirements.
3.
Submit application: You may then submit an application along with the required supporting documents. Any incomplete/inaccurate entries shall be invalid. Incomplete, illegible, corrupted, unrecognizable formats, and untimely entries or submissions will be void and disqualified. Also, all supporting documents associated with the application should be fully and accurately completed. You herewith consent and agree that all personal data shall be collected, used, and disclosed in accordance with Energy Web’s privacy policy. Finally, individuals applying on behalf of an organization shall obtain all required corporate or other authorizations to bind that organization to these Terms, and provide evidence of such authorizations. You are obliged to provide Energy Web with the information and documents requested as part of the procedures in a complete and timely manner.
4.
Acknowledgement of receipt. Energy Web shall engage its reasonable efforts to acknowledge receipt of an application within 10 business days.
5.
Revision of application and decision: Energy Web checks the applicant's compliance with the Criteria on the basis of the documents submitted. Energy Web determines the Clean Energy Score (as defined in Section 6.2) and the Grid Impact Score (as defined in Section 6.3). If Energy Web deems that the applicant has complied with the Criteria, it will grant the Certificate. If Energy Web deems that the applicant has not complied with the Criteria, it may directly not grant the Certificate and will not allow the applicant the right to use the Certificate. All decisions made by Energy Web are final and any disputes and complaints will not be permitted.
5 Termination of the right to use the Certificate
5.1
You may renounce the right to use the Certificate at any time. You shall notify Energy Web about the renunciation immediately.
5.2
Energy Web may remove or restrict your right to use the Certificate at its sole discretion at any time and without prior notice, including but not limited to the violation of these Terms and if Energy Web suspects that the information provided during the application process is false or invalid.
5.3
Before removing the right to use the Certificate, Energy Web will conduct an investigation. It is at Energy Web‘s sole discretion whether to discuss the reasons regarding the removal.
5.4
After termination you no longer have the right to use the Certificate.
6 Criteria
6.1
You can obtain the Certificate by achieving either a Clean Energy Score or a Grid Impact Score as set forth below higher than 50. Both scores are calculated retrospectively for the previous calendar year. At launch, Energy Web will offer certifications for calendar years 2021 and 2022.
6.2
Clean Energy Score: The Clean Energy Score recognizes Miners with operations primarily powered by non-emitting electricity sources (wind, solar, nuclear, hydro, geothermal, and biomass) by evaluating the proportion of their electricity consumption that is supplied by clean energy via the local grid mix.
The Clean Energy Score is calculated by:
(1)
Multiplying the total electricity use at a mining site by the proportion of clean energy in the grid mix supplying that site;
(2)
Aggregating the value of (1) for all mining locations; and,
(3)
Dividing (2) by the miner’s total electricity consumption across sites
The Clean Energy Score may be calculated using either annualized electricity demand and grid mix values or more granular data (e.g. monthly or daily) values.
6.3
Grid Impact Score: The Grid Impact Score recognizes Miners pursuing sustainability strategies that are driven by direct renewable energy purchases and participation in demand response and other grid flexibility programs. It uses a novel framework to assess:
(1)
The emissions implications of a miner’s operations and the emissions mitigation potential of its renewable energy purchases, based on marginal emissions data; and
(2)
The miner’s contributions to grid stability via participation in demand flexibility programs.
The net emissions impact of a miner’s operations and renewables purchases (item 1 above) accounts for 70% of the Grid Impact Score; grid stability contributions (item 2 above) account for the remaining 30%.
The Grid Impact Score is calculated as follows:
MWhPurchaseLocation
= Quantity of RECs or other renewable energy attribute certificates purchased from a given location
ME rate
= Quantity of RECs or other renewable energy attribute certificates purchased from a given location
GS Score
= Quantity of RECs or other renewable energy attribute certificates purchased from a given location
0 = Miner did not participate in a demand side flexibility program during the reporting year
50 = Miner enrolled in a demand side flex program but did not participate in any flexibility events
100 = Miner enrolled in a demand side flex program and participated in one or more demand side flexibility events
6.4
Energy Web will update its Criteria at its sole discretion on an annual basis. Energy Web may consult with Miners, data center, and other parties to align with evolving best practices for climate leadership.
8 Public Information
8.1
You have the right to publicly use your Certificate and share your underlying sustainability data with crypto market participants and others. Energy Web may provide information on conditions under which the right to use the Certificate was granted or renewed.
8.2
Upon termination of the right to use the Certificate, Energy Web shall have the right to inform the public that you no longer have the right to use the Certificate. Energy Web may provide information on the reasons that led to the termination.
9 Intellectual Property Rights
9.1
Unless otherwise indicated by us the website, all content, and other materials contained therein, including, without limitation, the Certificate, the Clean Energy and Grid Impact scores, Energy Web logo, and all designs, text graphics, pictures, information, data, software, and files relating to the Certificate (“Content”) are the property of Energy Web or our affiliates and licensors, as applicable.
9.2
The Content may not be copied, imitated or used, in whole or in part, without our prior written permission. Unless otherwise stated, you may not use any Content without our express written permission.
9.3
You herewith grant to Energy Web, including the right to transfer to its affiliates, the non-exclusive rights to reproduce, represent, publish, exploit, exhibit, show, market, sub-license, distribute and to technically modify and compress your content as is necessary for the purposes of the Certificate. By making your content accessible to Energy Web, you agree to Energy Web in its sole discretion to use, to store, to publish, to share your content free-of-charge, even after the termination of your right to use the Certificate.
9.4
Despite this allowance, your content shall always remain your property. Please note that due to the nature of the internet and digital media, data transmitted – including your content – cannot be protected against risks of misappropriation and/or piracy, for which Energy Web shall not be liable. You are responsible for taking all appropriate steps to protect your data, where applicable.
10 Eligibility
10.1
To make use of the Certificate, you must be able to form a legally binding contract with us. Accordingly, you represent that you are at least the age of majority in your jurisdiction (e.g. eighteen years old) and have the full right, power, and authority to enter into and comply with these Terms on behalf of yourself and any company or legal entity for which you may act.
10.2
You further represent and warrant that you are not (a) the subject of asset freeze, travel ban, financial, economic, human rights, sectoral or trade sanctions administered or enforced by any governmental authority or otherwise designated on any list of prohibited or restricted parties or (b) a citizen, resident, or organized in a jurisdiction or territory that is the subject of comprehensive country-wide, territory-wide, or regional economic sanctions by the United Nations. Finally, you represent and warrant that you fully comply with all applicable laws and regulations, and that you will not conduct, promote, or otherwise facilitate any illegal activity (including but not limited to activities which are prohibited by applicable AML and CTF regulations).
10.3
We reserve the right to choose which markets and jurisdictions to conduct our business and may restrict or refuse, at our sole discretion, access to the website in certain countries or regions.
11 Data and Privacy
11.1
Energy Web will keep confidential all data and documentation submitted by you in connection to the application for Certification. You may elect to share your data and documentation with third parties directly or via functionality provided by the Green Proofs for Bitcoin website and application.
11.2
The records of Energy Web are stored on our systems in accordance with standard safety practices and applicable laws.
11.3
Energy Web takes your privacy and the protection of your personal data, collected and processed in connection with the Certificate very seriously. If you want to find out more about the personal data collected, how we collect them and the related processes, you can check our Privacy Policy, available at any time on the website.
12 Disclaimers
12.1
Energy Web will not be liable for any loss of any kind from any action taken or taken in reliance on material or information contained within the Green Proofs for Bitcoin certification. Energy Web does not represent or warrant that any content is accurate, complete, reliable, current or error-free.
12.2
Energy Web cannot guarantee the security of any data that you disclose. You acknowledge and accept the inherent security risks of providing information and dealing online over the internet. Energy Web will not be responsible for any breach of security unless it is due to its gross negligence.
12.3
TO THE FULLEST EXTENT PROVIDED BY LAW, ENERGY WEB HEREBY DISCLAIMS ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, STATUTORY, OR OTHERWISE, INCLUDING BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT AS TO THE CERTIFICATE AND CONTENT CONTAINED THEREIN. THE FOREGOING DOES NOT AFFECT ANY WARRANTIES THAT CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW.
13 Liability
13.1
Energy Web cannot be held liable in any way by you for direct damages of any nature whatsoever suffered by anyone as a result of or in connection with the Certificate, unless arising from Energy Web’s willful misconduct or gross negligence.
13.2
Energy Web’s liability for indirect damages, including but not limited to consequential damages, lost profits, lost savings, reduced goodwill, loss due to business interruption, losses as a result of claims from third parties, and damages in connection with the engagement of third parties by you, as a result of or in connection with the Certificate, is excluded.
13.3
Energy Web is not liable for any loss arising in the performance of the Certificate due to Energy Web acting on incorrect or incomplete information provided by you.
13.4
Energy Web is not liable for any damage or loss, in any form whatsoever, caused to or by the Certificate as a result of non-compliance with these Terms, such as, in the event of failure to deliver the Energy Web service on time or in full, due to unforeseen circumstances and/or force majeure, or any other agreed.
13.5
If, for any reason, Energy Web is liable, then its liability per incident is limited to an amount equal to the fee collected by Energy Web in direct relation to such incident.
15 Other
15.1
If Energy Web does not enforce parts of these Terms between Energy Web and you, this cannot be regarded as a waiver of the right to enforce this against you at a later stage.
15.2
You cannot transfer the rights and obligations under these Terms and/or any agreement between Energy Web and you to third parties. Energy Web can assign and/or transfer all rights and obligations under these Terms and/or any agreement between Energy Web and you to a third party, without consent from you being required.
15.3
If any provision of these Terms is deemed unlawful, void, voidable or otherwise unenforceable, this does not affect the validity and enforceability of the remaining provisions of these Terms. The unlawful, void, voidable or otherwise unenforceable part shall be deemed replaced by a valid and enforceable provision that achieves the aim and scope of the replaced provision closely.
16 Amendment and Variation
16.1
These Terms may from time to time be updated or amended. Energy Web will post any such updates on our website. Such updated Terms as posted will take effect immediately unless otherwise indicated. You should regularly check our website to inform yourself of any such changes. In addition, Energy Web may at any time change, add or remove any feature or functionality of the interface without prior notice. By continuing to use interface after any such changes have taken effect, you are indicating your acceptance of the updated or amended Terms. If you do not wish to be bound by any changes or amendments to these Terms then you should stop using the interface immediately.
17 Applicable law and competent court
17.1
These Terms and any agreements between Energy Web and you are exclusively governed by Swiss law without regard to any choice or conflict of law rules.
17.2
Unless contrary to mandatory law, all disputes and claims arising out of or in connection with these Terms and/or an agreement must be submitted solely to the competent ordinary court in Zug, Switzerland.
18 Queries, remarks and suggestions
For any queries, remarks or suggestions, please contact Energy Web using the contact details below or via the contact form on the interface and/or website.
Energy Web FoundationBaarerstr. 10
CH-6300 Zug
Email address:
[email protected] Chamber of Commerce no. CHE-398.583.101
